Drill bits, as used for example in electric drills, are conventionally disposed removably in corresponding bores in a rectangular container with the bores disposed along several parallel straight paths. When the container is disposed in vertically upright position with a top cover open, any bit can be selected and removed maually. However, it is often difficult to select a particular drill size because adjacent drill bits are closely spaced and the marking of the size is often difficult to read. Moreover, if the container is knocked over accidentally or inverted, all of the bits can spill out whereby the drills must be carefully collected and replaced manually, one at a time, to insure that each bit is replaced in the proper bore.
The present invention overcomes these difficulties thereby any desired bit can be quickly and easily selected, removed and replaced and, in addition, only one bit can be removed at a time in such manner that no more than one bit can spill out if the container is knocked over accidentally or is inverted.